Prominence De-Risks and Upgrades 2P Reserves for Bowsprit Oil Prospect

  • Feb 05, 2020 AEDT
  • Team Kalkine

Prominence Energy NL (ASX:PRM) de-risks and upgrades reserve for Bowsprit oil development project.

  • The company achieved the reclassification of Contingent Resources to Reserves, and now the downside risk of drilling is low with significant exploration upside tested by the well.
  • The drilling would target three pay zones, namely T1 (horizontal well), T2 and T3 (vertical well).
  • T1-2P estimate stands at 330,000 barrels with an initial rate of ~1,670 barrels of oil equivalent per day.



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